China Business Insider - News From Caixin Global

Nurse dies after being turned away by hospital due to Covid measures; wild rollercoaster ride in the nickel market; and troubled developer Yuzhou seeks state bailout on almost $550 million of bonds.

Ambassador to Washington says bilateral relations must still respect U.N. Charter; things get tricky for Weibo in the U.S.; and finance workers in Shanghai are sleeping in their offices.

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Plus, black box recovered from China Eastern wreckage; and shares of telecom equipment giant ZTE soar as a U.S. court ends probation for sanctions violations.
 
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No reports of survivors from the jet that went down in Guangxi; tragedy rattles airline stocks; and medical expert calls on China to improve vaccines in order to defeat omicron.

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Aircraft with 132 people onboard goes down in Guangxi; how Hong Kong could lift its Covid restrictions and return to ‘normalcy’ by summer; and Beijing pledges further support for economy.

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Plus, the Biden-Xi meeting; China’s battle against omicron; and Tencent’s plans to downsize

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China’s fixed-income market has historically been neglected by global investors. However, after a remarkable growth in recent years, the size of China’s onshore bond market alone has hit $20 trillion as of December 2021, second only to that of the U.S. Chinese bonds, especially RMB-denominated onshore ones, have been increasingly favored worldwide for high yields, less volatility and asset diversification.

Although the size of the bond market matches many of its peers in developed economies, it is still emerging and has certain unique characteristics. It is much less liquid, as most bonds are held by state-owned banks and not actively traded. Compared with government and policy banks, companies play a smaller part in issuing fixed income securities. Market fragmentation with limited connectivity in different sub-markets, is another feature of China’s bond market.

In recent years, Chinese financial regulators have carried out reforms and opened up wider by providing more channels for international investors to participate. Global credit rating agencies are also introduced to improve the granularity of the market’s rating. The positive moves are resulting in the market’s inclusion into all global major benchmark indexes. As a result, foreign ownership of the RMB bonds has risen to $630 billion, or 3% of the total.

In the second episode of “China Finance with a Cup of Tea,” Caixin invited Kenneth HO, managing director and head of Asia Credit Strategy Research, Goldman Sachs, and PENG Qinqin, senior finance reporter, Caixin Media, to share their insights on what international investors should know about and how to navigate China’s bond market.

Leaders hold first meeting since Russia-Ukraine war erupts; the low vaccine rate among the elderly; and China reports first Covid deaths in over a year.

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Stories of kidnappings and human trafficking highlight the growing danger China’s citizens face in the Southeast Asian nation. 

Read the article by Qin Jianhang, Sun Haijiao, Wang Kerou, Wang Xintong and Lu Zhenhua: https://www.caixinglobal.com/2022-03-04/in-depth-as-more-scammers-find-shelter-in-cambodia-more-chinese-become-victims-101850958.html

Narrated by Nandini Venkata
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While the Chinese population is shrinking, the South Asian country’s is growing at a rate that indicates it will soon have more people than its neighbor to the east in a few short years.

Read the article by He Yafu: https://www.caixinglobal.com/2022-03-08/opinion-why-indias-population-could-surpass-chinas-in-next-three-years-101852756.html

Narrated by Nandini Venkata
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Are you a big fan of our shows? Then please give our podcast account, China Business Insider, a 5-star rating on Spotify, Apple, or wherever you listen to podcasts!